New Zealand sovereign fund commits to domestic expansion capital

Often time sovereign funds allocate capital within their home markets. Positive externalities include local job creation and higher tax revenue for the government. In terms of small to medium-sized businesses, they tend to generate a significant portion of a country’s gross domestic product.
Being a cornerstone investor, the New Zealand Superannuation Fund (NZSF) committed NZ$ 40 million to a new expansion fund managed by Auckland-based Pioneer Capital. Pioneer Capital’s second fund will target private-owned, small to medium-sized New Zealand businesses that plan to expand into international markets. The fund capital will target exporters that need expansion capital in the NZ$ 10 to 30 million range……………………………….Full Article: Source